08.07.14
Loud Folk Live for Thursday
Fresh from the First Church of USA!USA! and Mammon in Pasadena, off Colorado, the famous Route 66: Rich Man’s Burden! As you’ve never heard it before!
Recorded live in between times fruitlessly searching and hoping for work in the Corporate Bund.
Today’s timely message liner notes from the Federal Reserve:
New data from the Federal Reserve highlight how many Americans continue to struggle financially more than five years after the end of the Great Recession.
As of September 2013, when the central bank conducted the poll, a quarter of families said they were “just getting by,” while an additional 13 percent were struggling to make ends meet.
Asked to compare their current financial situation with how they were faring five years ago, as the housing crash was wreaking havoc on the economy, 34 percent of respondents said they were doing “somewhat or much worse” than in 2008. The same percentage reported essentially treading water, while 30 percent said they were doing better.
“Given that respondents were being asked to compare their incomes to 2008, when the United States was in the depths of the financial crisis, the fact that over two-thirds of respondents reported being the same or worse off financially highlights the uneven nature of the recovery.”